Tyler Technologies Reports Earnings for Second Quarter 2020
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Tyler Technologies (TYL) Tops Q2 EPS by 18c, Revenues Miss; Offers FY20 EPS/Revenue Guidance Above Consensus
July 29, 2020 4:41 PM EDTTyler Technologies (NYSE: TYL) reported Q2 EPS of $1.38, $0.18 better than the analyst estimate of $1.20. Revenue for the quarter came in at $271.1 million versus the consensus estimate of $278.17 million.
Second Quarter 2020 Financial Highlights:
Total revenues were $271.1 million, down 1.5% from $275.1 million for the second quarter of 2019. Organic revenues declined by 1.9%. Non-GAAP total revenues were $271.3 million, down 2.4% from $278.0 million for the second quarter of 2019. Non-GAAP organic revenues declined by 2.8%.
Recurring revenues from maintenance and subscriptions were $202.4 million, up 12.3% from $180.2 million for the second quarter of 2019, and comprised 74.7% of second quarter 2020 revenue.
Operating income was $41.3... More
